Reported 12 months ago
All 31 large banks in the U.S., including Citigroup, Goldman Sachs, and Morgan Stanley, passed the Federal Reserve's stress test and are planning to increase dividends for shareholders. This reflects their ability to withstand economic and market turmoil. For instance, Citigroup raised its dividend to 56 cents from the planned 53 cents, while Goldman Sachs increased its dividend from $2.75 to $3 per share. Morgan Stanley intends to raise its dividend from 85 cents to 92.5 cents and also implemented a $20 billion stock repurchase plan. JPMorgan Chase, the largest U.S. bank by assets, increased its dividend from $1.15 to $1.25 and approved a $30 billion stock buyback plan. Other banks, such as Wells Fargo and Bank of America, also announced dividend increases and stock repurchase plans.
Source: YAHOO